New Delhi, January 18, 2006:
|
NIIT Limited Consolidated Financials at a Glance |
|||
|
(in Rs. Crores) |
Qtr ended Dec 31, ’05 |
Qtr ended Dec 31, ’04 |
% Growth YoY |
|
Consolidated Revenues |
105.2 |
86.1 |
22 |
|
Operating Profit |
11.9 |
9.2 |
29 |
|
Profit After Tax |
5.5 |
4.8 |
14 |
For the third quarter ending December 31, 2005, NIIT Limited posted Consolidated Net Revenues of Rs 105.2 crores, recording a growth of 22% YoY. Global System-wide revenues stood at Rs.149.4 crores, representing a 13% increase YoY.
The Operating Profit at Rs.11.9 crores, represented a 29% growth YoY and an improvement of 63 basis points in the Operating Margin to touch 11% this quarter.
The company’s consolidated net profit grew 14% YoY to touch Rs. 5.5 crores. This has resulted in a basic EPS of Rs. 2.80 on each share of Rs.10 for the quarter.
Commenting on NIIT Limited’s Q3 performance, NIIT Chairman
Mr. Rajendra S. Pawar said, “Closer relationships and strengthening of new partnerships with technology companies including Intel and Microsoft, led to higher enrolments and improved revenues in the institutional and individual space.”
The results were taken on record at the meeting of the Board of Directors of NIIT Limited here today.
Mr. Vijay K. Thadani, Chief Executive Officer, NIIT Limited said, “The strong profit improvement was driven by robust volume based revenue growth and improved operating leverage. Seasonal volatility was better managed through changes in product mix.”
Of the global revenues of Rs. 149.4 crores, NIIT’s Individual Learning Solutions contributed 47% of the overall totals, while Corporate Solutions and Institutional Customers accounted for 33% and 20% respectively.
The Individual Learning Solutions recorded a 22% YoY growth coupled with 61% enrolment growth in the IT career programs. The industry acceptance of the GNIIT curriculum was reflected in the 76% growth in placements of NIIT students.
The China geography recorded 36% YoY growth in revenues. Seven new education centres were added in China during the quarter.
During Q3, NIIT forged a strategic academic alliance with the UK’s largest university, the Open University, to offer its widely acclaimed degree program -- B.Sc. (Honours) Computing and its Practice -- to students in six countries across South Asia, Africa and South East Asia.
Talking about new initiatives in the institutional space Mr. P Rajendran, Chief Operating Officer, NIIT said, “Our new solutions package, launched in partnership with Intel and State Bank of India, to facilitate ownership of computers and adoption of NIIT@School offerings by a larger number of schools, was well received.”
NIIT’s Knowledge Solutions’ Technology vertical grew with new partnerships for Technology Readiness and Enablement Training. NIIT’s recently established Europe subsidiary opened account with the first corporate training solutions order from a large electronics major.
The fresh corporate order intake of USD 10.38 million took the pending order book to Rs. 252.2 crores as on December 31, 2005.
Acknowledgments
Based on a nationwide survey by AC Nielson, NIIT was named the Most Customer Responsive Educational Institution and awarded The Economic Times - Avaya GlobalConnect Award for Customer Responsiveness.
Leading IT industry magazine Dataquest conferred NIIT with the ‘Top Training Company Award for 2004-05.’ According to the Dataquest survey, NIIT had increased the lead over its next competitor to Rs. 263 crores.
For pioneering and building a sustainable model of franchising in computer education, NIIT was awarded a Lifetime Achievement Award by Franchising World magazine.
About NIIT
NIIT, an acknowledged leader in the IT and IT-assisted training space, offers Learning and Knowledge Solutions in nearly 30 countries. With over 500,000 learners on rolls, NIIT is the only Asian Education and Training Organization to feature among the IDC Top 20 Global IT Training market leaders.
NIIT's education offerings include: GNIIT -- an industry-endorsed program for students seeking careers in the IT; CATS -- offers training program on advanced technologies for IT professionals; Swift -- a platform for equipping ordinary people
with basic computer and Internet skills; NetVarsity.com offers a blend of content, technology and services, and NIIT@School -- a turnkey, IT integration program that provides computer-based learning in over 3500 government and private schools.
NIIT’s range of offerings in the e-learning domain are reinforced by its SEI-CMM Level 5 assessed Knowledge Solutions business (KSB), which has emerged as a leader in the field. NIIT KSB offers integrated learning solutions that range from strategy and design to development, implementation and administration.
Its customers include Fortune 500 Companies, Universities, Technology Companies, Training Corporations and Publishing Houses.
For media queries, please contact:
sanjivk@niit.com, Ph: +91 11 26203344, 98100 48095;
For investor queries, please contact:
chetnak@niit.com, NIIT Limited; Ph: +91 1126203209